8420 Highway 51Southaven, MS 38671

Property Details for 8420 Highway 51

Construction

CONCRETE BLOCKS

Lot size

0.18 AC

Property size (Sq ft)

1,435 SF

Zone code

C-4

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

1-08-6-23-00-0-00058-00

APU

1086230000005800

Description

This exceptional 1,435 sq ft commercial property, situated on a substantial 7.768-acre lot at 8420 Highway 51 N in Southaven, Mississippi, presents a remarkable investment opportunity. Currently utilized as a car lot, its versatile nature allows for a wide array of business ventures. The property's prime Highway 51 North location ensures high visibility and accessibility, making it ideal for businesses seeking strong foot traffic and convenient access for customers. The spacious lot offers ample parking and potential for expansion or future development. The asking price of $235,000 makes this an attractive proposition for entrepreneurs seeking a cost-effective entry into the Southaven market. Its suitability extends to various business types, including but not limited to beauty salons (braiding salons included), car washes, and a variety of small businesses or start-ups seeking a storefront presence. The property's adaptability and strategic location combine to create a compelling investment opportunity with significant potential for growth and return. This is a rare chance to acquire a well-positioned commercial property in a thriving area, offering both immediate usability and long-term development potential. Serious inquiries are encouraged to explore this promising venture.

• CAP approach

  CAP return

  Valuation

  6%

  $256,383

  6.5%

  $236,662

  7%

  $219,757

• Comparable approach

  Method

  Valuation

  Relative Method

  $173,403

  Geo Method

  $173,403

• Alternative Use

  Use

  Valuation

  Residential

  $236,662

  Hospitality

  $216,781

  Educational

  $180,359

  Medical

  $186,562

  Retail

  $280,558

Location Insight

City

Southaven

County

Desoto

State

Mississippi

Latitude

34.9835

Longitude

-90.0155

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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